trading patterns

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Buyers in Control of NWS

Friday, July 24th, 2009

NWS has been in a steep down trend for the past 18 months with the sellers in control. This month has given us a confirmation that the buyers have taken over control. On the weekly chart, it can clearly be seen the down trend has been broken and a Higher Trough and Higher peak have [...]

TOL Forming a Double Bottom?

Sunday, June 21st, 2009

TOL has been making consistent Higher Peaks and Higher Troughs in a channel since the beginning of March. Now at a significant support what could be the next possible target for this stock? A potential Double Bottom could forming on the $6.45 weekly support line. Should this be validated with another Higher Trough it is [...]

Fibonacci Numbers in Trading

Tuesday, May 5th, 2009

The Fibonacci retracements pattern is a powerful tool used by technical traders to identify reversals on a stock chart. Let’s take a look at the Fibonacci sequence and show some examples of how you can identify this pattern. Fibonacci numbers were developed by Leonardo Fibonacci and it is simply a series of numbers that when [...]

XAO Pull Back?

Tuesday, May 5th, 2009

Over the last couple of weeks, the XAO has been consolidating at the 3700 level after a strong bull run. Regardless of whether this is the bottom of the market or not, it’s likely there will be a pull back in the market before it can continue. The question is how far is it going [...]

Dow Jones Showing Signs Of Weakness

Thursday, April 30th, 2009

  Over the past weeks the Dow Jones (DJI) has been rallying but showing signs of weakness. Last night was another strong bullish up day but does that mean it is breaking up again? Not yet! When looking at the daily chart the weakening of the rally can be seen as the DJI consolidates under [...]

XAO Going Sideways?

Monday, April 27th, 2009

  This week we saw the XAO start to retreat a small. If this weeks closing bar is placed on the weekly chart from last week, with the exact same trend lines, you will see how strong the resistance is at play right now. This leaves the analysis for coming weeks much the same as [...]

XAO Bottom? 12 Month Downtrend Broken

Friday, April 24th, 2009

The XAO has recently broken a 12 month down trend line which will make a Higher Peak (HP). This is an indication it is gaining strength. But is this the bottom? Though the charts are showing some strength there is not enough confirmation to call a bull market yet. Let’ look why. The overall down [...]

Point of Resistance For ANZ?

Thursday, April 16th, 2009

  After some week of a bull run on the market, there are signs that things could be trying break out of the bear run. It is times like these, reading the market is crucial and understanding what could happen, so we may be ready for if it happens. To build a case scenario so [...]

Easter Stock Market 2009

Monday, April 13th, 2009

This week was a small week on the XAO, with the Easter long weekend and an early close on Thursday. In the news, the reserve bank dropped interest rates by 0.25% but banks are keeping most of it, ANZ only passing on 0.1%. This had not much affect on the charts. Looking at last weeks [...]

Dow Jones Reaches Pinnacle Point of Resistance

Wednesday, April 8th, 2009

With America’s economy seeming to have some level of influence in the world economy, I thought it would be brilliant to see what the Dow Jones (DJI) chart looks like. Last week the XAO closed on an area of a pinnacle point (see last post). Should it break up we are likely to see alot [...]

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